Aigen Investment Management LP Buys New Position in McKesson Co. (NYSE:MCK)

Aigen Investment Management LP bought a new stake in shares of McKesson Co. (NYSE:MCK - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,540 shares of the company's stock, valued at approximately $1,750,000.

A number of other hedge funds have also made changes to their positions in MCK. JPMorgan Chase & Co. increased its holdings in shares of McKesson by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company's stock valued at $2,342,190,000 after purchasing an additional 46,659 shares during the last quarter. Legal & General Group Plc boosted its holdings in McKesson by 2.9% in the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company's stock valued at $757,862,000 after purchasing an additional 36,583 shares during the period. Swedbank AB purchased a new position in McKesson in the first quarter valued at $669,326,000. Boston Partners raised its stake in McKesson by 4.1% in the first quarter. Boston Partners now owns 1,183,829 shares of the company's stock valued at $635,763,000 after buying an additional 47,140 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in McKesson by 7.9% in the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company's stock valued at $500,879,000 after buying an additional 62,875 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Analysts Set New Price Targets

MCK has been the subject of several analyst reports. Mizuho upped their price objective on McKesson from $540.00 to $570.00 and gave the company a "neutral" rating in a research note on Thursday, August 8th. Evercore ISI upped their price target on McKesson from $560.00 to $680.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Wells Fargo & Company lowered their target price on McKesson from $576.00 to $535.00 and set an "equal weight" rating on the stock in a report on Friday, September 13th. StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Finally, Leerink Partners reduced their price target on McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $625.64.

McKesson Stock Up 0.3 %

Shares of MCK stock traded up $2.09 during trading hours on Tuesday, reaching $617.68. 1,012,803 shares of the company's stock were exchanged, compared to its average volume of 825,146. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The stock has a market capitalization of $80.10 billion, a P/E ratio of 31.88, a P/E/G ratio of 1.39 and a beta of 0.44. The business has a fifty day moving average price of $514.12 and a 200-day moving average price of $552.38.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts' consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson's revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the company posted $6.23 earnings per share. As a group, research analysts expect that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.46%. McKesson's dividend payout ratio is currently 14.71%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.11% of the company's stock.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.